Account Based Marketing, or ABM, is when Marketing and Sales take a coordinated approach to generating revenue from specific accounts. Of course, focusing on specific accounts is not a new concept for sellers. The idea that marketing messages and activities should be targeted toward specific accounts to help sales generate more revenue is fairly new.
Marketing has, in the past, been driven by an individual’s activity – generating and nurturing each lead as a separate entity. Common questions asked were, “What person is coming to the website?” and “What activities is that particular person doing over time?” Those are still important questions but now marketers realize they should also ask questions like, “What account is that person with?” and “What should we be showing, or marketing to that person, so we can help Sales drive more revenue from that account?”
The goal is to present a unified front to contacts from the same account so that consistent and relevant messaging reinforces account-specific value (and therefore fortifies sales efforts).
There are many parts to an ABM strategy. First, you’ll need to identify and get consensus from sales on who the specific accounts should be. Second, you’ll need a way to identify the contacts at each account (for outbound activities) and you’ll need a way to flag inbound leads and assign them to the proper account. The latter is not as easy as it sounds because CRMs don’t typically assign accounts to leads and because there are many ways one might abbreviate or spell a company name on a web form.To deploy an ABM strategy you’ll need a way to flag inbound leads and assign them to the proper accountClick To Tweet
You’ll also need specific content that different accounts would find relevant and that would embolden action. ABM can be quite complex. Fortunately, a lot of great content is available to learn what it is and how to put it into effect. Below is a resource list of ABM solutions along with some handy reading material.
ABM Solutions & Resources
ABM is but one strategy technology can help with. In future issues of What to Have in Your 2017 Sales Stack, we’ll outline technologies and resources for on-boarding, account based selling, sales performance improvement, and more. Subscribe to our blog so you don’t miss an issue.